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Farmers selling wool are being left disappointed by another significant downturn in prices. Merchants are quoting 60c to 65c/kg, although farmers report being paid up to 70c. This time last year, the trade opened on 90c/kg to €1.00/kg.
Poor demand from China is once again being blamed for the weaker market. Yesterday’s sale by the British Wool Marketing Board recorded a weaker trade.
The average price fell by 10p/kg to £1.16/kg, which is the equivalent of €1.25/kg at 85p to the euro.
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